Whilst the handover of the 2009 and 2010 accounts from the developer is still in progress we are currently unable to provide you with any real details from that period.
From January 1st the JMC have been able to track the income and expenditure of Villa Wangsamas and make decision accordingly.
The current income is not sufficient to cover our costs and this coupled with the delayed handover of the sinking fund prevents many of the desired improvements from taking place,
We are happy to share the income and expenditure for Jan 20011 to May 2011 which will provide you with a greater understanding of the challenges that we face.
In addition we have also detailed how any potential service charge increase would impact the income.
Please remember that these are non audited and are subject to change during the annual audit process.
The details are available here: 2011VWM_I&E
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